in partnership with

Patent Box Technology & Taxation

1851 Technology Group1 Emperor Way

Exeter Business ParkExeter. EX1 3QS

Tel: 01392 915 870www.1851technologygroup.com

in partnership with

May Figures Science and TechnologyChartered Tax Advisers

Tel: 01727 751080www.mayfigures.co.uk

May Figures Ltd Science and TechnologyChartered Tax Advisers

A unique No Win No Fee opportunity to significantly reduce your Corporation Tax bill.

In parallel with 1851 Technology doing the patent

application work – May Figures Ltd – A regulated

Chartered Tax and Chartered Accountancy Advisory firm

specialising exclusively in Patent Box tax calculations

and R&D Tax Credit claims will do the Patent Box tax

calculations for the firm (working with the firms existing

accountant who will retain all the other accounting / tax

business of the company).

Whilst the patent application is being processed (this

can take 2-3 years) the company has to let HMRC know

how much they will be claiming if the patent application

is successful and then when the application is finally

approved the company receive the back dated tax

reduction at their next annual filing. We thus will typically

be undertaking the patent drafting, filing and processing

work for 3-4 years before receiving any fee income which

is a totally unique offering in the UK

St Albans based May Figures Ltd is headed up by Julia

May, a prize winning ex Big 4 Chartered Accountant

/ Chartered Tax Adviser who as an R&D / Patent Box

corporation taxation specialist has filed over 500 claims

saving clients over £15 million in corporation tax.

Our PartnerFounded in 2010 by Dr Mark Graves, 1851 Technology Group has helped over 200 technology and manufacturing companies monetise their R&D and product and process developments through over 400 R&D Tax Credit claims (saving over £15 million) as well as patent searches, patent filings and technology due diligence for investments and acquisitions.

Mark has a first class degree in Engineering and Materials Science from Oxford University and a PhD in Computer Science from Cardiff University and spent 20 years running R&D project teams in Europe, USA and India in projects ranging from food processing, medical imaging, wireless sensor technologies, medical devices and the printing industry. He has an additional post graduate qualification in Intellectual Property Law from Bournemouth University gaining exemption from the Chartered Institute of Patent Attorneys exams.

MF

What is Patent Box?

Patent Box is an HMRC / UK Government scheme designed to

encourage innovation in the UK by enabling companies who register

a patent application before June 2016 to potentially receive a

significant reduction in their corporation tax bill (down to 10% from

20%) on profits from the sales products or services covered by the

patent application. Worldwide sales are considered in the tax saving

even if only a UK patent is obtained.

Many companies who already have patents and are serviced by

the larger accounting firms with specialist teams for Patent Box

will already have applied for this taxation saving. Our specialist

taxation partner firm can help those companies who have granted

UK patents or pending applications and have not yet registered for

this taxation saving and need specialist help in undertaking the

calculations to maximise the taxation saving. Most accountants

believe that non-profitable companies cannot benefit from Patent

Box. Whilst this is often the case there can be certain cases where

the split of patented products to non-patented products means that

even loss making companies can benefit.

Some firms without patents are engaging patent attorneys to write

a patent for them but this is both expensive and also requires the

firm to have a good idea of what is novel and inventive about their

products / process so that the patent attorney can draft the patent

application – ie. patent attorneys will draft the application using the

legal terminology required for a patent application but will need the

client to specifically tell them the technical details of the invention

and how it differs from prior art.

We are working with firms who do NOT already have a patent.

We will visit their factory / design team, review their technology,

identify potentially patentable features in their product or production

process, searching existing patents (using state of the art patent

searching tools such as Lexis Nexis Total Patent and Patent Insight

Pro) to identify where the company has some uniqueness (however

small) and write and file a patent at the UK Intellectual Property

Office and manage the on-going patent application process.

This patent application will be undertaken completely free of charge, at our risk, in return for a share of the future taxation saving if the application is successful.

How we can help...

“Companies have the potential to reduce their corporation tax

bill by typically 30 to 40% every year until 2021”

Dr Mark Graves - 1851 Technology Group

Production Processes

If you are manufacturing a product whether it be a food

product, plastic injection moulded part or a woodworking

process for a door there is likely to be some aspect of your

manufacturing process which can be patented even if the

end product has been around for many years and itself is

not novel or innovative.

In this case we can patent some aspect of your production

process and still claim a taxation saving through the

“Notional Royalty” scheme - this piece of the Patent Box

legislation is not well understood even by specialists but is

an area where we have specific know-how and can guide

you through the process to make potentially considerable

taxation savings from profits made by products produced by

the manufacturing process.

We utilise state of the art patent searching tools including Lexis Nexis Total Patent and Patent Insight Pro.